“I think for the general market – whether you’re planning to grow by three times or just by 25% – everybody’s going to grow in a growing market. So just being very proactive with your approach to hiring and developing your team is critical right now in the early stages.”
Technology for mortgage firms
For smaller players in the mortgage market, Casa also emphasized the importance of making the right investments in technology and training in order not to be left behind by the industry’s giants, particularly with merger and acquisition activity having shot through the roof during the prolonged market downturn since 2022.
He said the industry is currently marked by “the single biggest gap I’ve ever seen” between the big players and the rest of the market on the retail, wholesale, and servicing sides. “The difference in size between them and their smaller competitors is so massive and they have the advantage of economies of scale,” he said.
“But not only that – when you’re that big, you just are really good at what you do. So I think there’s a really important theme out there which is that the small need to invest in technology, they need to invest in training, they need to invest in their platforms if they want to close this gap.”
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
Source: mpamag.com